https://nyif.nmfb.com.ng/Applicants/New login portal|closing date 2022/2022
The NYIF Registration portal https://nyif.nmfb.com.ng/Applicants while the loan application and login portal is https://nyif.nmfb.com.ng/ApplicantDashboard/Business/Login
We have provided this guide for all who are interested in the National Youth Investment Fund (NYIF).
NYIF Registration Form – Latest Guide 2022/2023
Remember that the Official Website: https://nyif.nmfb.com.ng/
This is an article that is packed with all necessary and most important information about NYIF Registration and application with interest of the youth who look forward to receiving a loan from the Government to support their businesses.
Let’s give you a little intro about The National Youth Investment Fund (NYIF).
This programme was first made official around October 2020 by the Federal Government, they hinted that the scheme will aim to give massive support to individuals with creative ideas, skills who are mostly the youth.
To make the programme a reality the federal Government mapped out funds that will be given to successful beneficiaries of the NYIF beneficiaries.
The programme is been championed by the Federal Ministry of Youth and Sports Development funded and also by the Central Bank of Nigeria, NIRAL Microfinance Bank which will serve as a channel through which funds will be disbursed.
The main aim here is to get as much youth that are interested to sign up for the programme, as many as 500,000 youth can be recruited or registered successfully every year from October 2020 to 2023.
The NYIF fund is quite encouraging, you should note that those that are eligible will get massive funding, starting from N250,000 and N50,000,000 and this comes with what they call single-digit interest rate currently pegged at 5%. It means only %5 of the funds received will be paid back as interest.
This loan will be up and running for a period of 5 years with a moratorium maximum of 12months based on NMFB evaluations. The structure of beneficiaries business will also be considered.
Who is Eligible for NYIF Funds?
Let’s talk about the eligibility requirements that is needed before a beneficiary will be considered worthy to receive the loan.
- If you are a Nigerian within the age of 18 and 35years
- You need to get an Approved FMYSD EDIs Training Certificate
- Your business should have a plan,like what they call business plan.
- This business must be owned by a youth
- Beneficiaries should not be involved in criminal activities for the last 10 years.
- You should have a bank verification number
- Your business must be running.
- Its necessary to have your business registered with a corporate affairs commission.
- You should have a valid identification document.
Who is NOT Eligible for NYIF?
At the end of the day not everyone will receive the fund. This is why you should know those things that can disqualify one from National Youth Investment Fund (NYIF) initiative.
- If you have been a beneficiaries of any Government intervention programme like the NMFB loans and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS)
- If you have gotten any Government loan before to support your business idea. Please don’t apply.
- Those that got themselves involved with crime in the last 10 years will be disqualified.
- Those that are not Nigerian, not with valid documents to show they are from Nigeria will also be disqualify.
How to apply for NYIF on nyif.nmfb.com.ng?
We have a detailed steps on how to go about the application process of the NYIF registration :
Visit NYIF Application portal here :
And apply now.